Captrust Financial Advisors Trims Stake in PJT Partners Inc. (NYSE:PJT)

Captrust Financial Advisors reduced its position in shares of PJT Partners Inc. (NYSE:PJT) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,046 shares of the financial services provider’s stock after selling 103 shares during the period. Captrust Financial Advisors’ holdings in PJT Partners were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of PJT Partners by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider’s stock valued at $396,987,000 after purchasing an additional 127,060 shares in the last quarter. FMR LLC increased its position in shares of PJT Partners by 52.8% in the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider’s stock worth $100,651,000 after purchasing an additional 220,526 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PJT Partners by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider’s stock worth $100,273,000 after purchasing an additional 16,233 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of PJT Partners in the fourth quarter worth approximately $89,192,000. Finally, Alliancebernstein L.P. increased its position in shares of PJT Partners by 9.8% in the fourth quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider’s stock worth $74,914,000 after purchasing an additional 42,463 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the transaction, the general counsel now directly owns 2,288 shares in the company, valued at $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.75% of the company’s stock.

PJT Partners Trading Up 2.3%

PJT stock opened at $150.67 on Monday. The company’s 50 day moving average is $138.21 and its 200 day moving average is $152.80. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 30.75 and a beta of 0.76. PJT Partners Inc. has a 1-year low of $99.77 and a 1-year high of $190.28.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The business had revenue of $324.50 million for the quarter, compared to analysts’ expectations of $361.26 million. During the same period last year, the business earned $0.98 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Wednesday, June 4th. PJT Partners’s payout ratio is currently 17.64%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $152.00 to $161.00 and gave the stock a “market perform” rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $154.50.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.